Lowering Electric Bills Act

This bill extends certain clean energy tax credits so families and power producers can keep saving money on clean energy projects. It pushes the end date for the home clean energy credit from December 31, 2025 to December 31, 2034, giving homeowners more time to claim a credit for qualifying clean energy upgrades at home . It also keeps the clean electricity production and investment credits available longer by removing phase-out rules and updating how long the credits apply, tied to national power-sector emissions levels set by the Treasury Department .

Overall, this aims to lower electric bills and speed up the shift to cleaner power by giving more years of tax support for home and utility-scale projects .

• Key points:
  • Who is affected: Homeowners using the residential clean energy credit; companies building clean electricity projects that claim production or investment credits .
  • What changes: Extends the home credit through 2034; removes certain phase-out limits and updates timing rules for the production and investment credits based on when national electricity emissions drop to a set level .
  • When: The extension for the home credit runs through December 31, 2034; other changes take effect as if they had been part of earlier clean energy credit laws, ensuring continuity going forward .